Kanpur Plastipack Limited has informed the Exchange about Issuance and allotment of warrants by way of preferential issue on a private placement basis ( Preferential Issue )
KANPRPLA · price
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Kanpur Plastipack Limited's board, on May 15, 2025, approved issuing up to 10,12,000 fully convertible equity warrants to 9 investors on a preferential/private placement basis at ₹130 per warrant (face value ₹10 + ₹120 premium), aggregating up to about ₹13.16 crore. The warrants represent 4.18% of the fully diluted paid-up capital, with investors required to pay 25% upfront (₹40) and the remaining 75% (₹90) at the time of share allotment upon conversion. Most allottees are from the promoter/promoter group (Agarwal family, who together hold ~35% post-issue), along with a few external investors like Raghushree Earning Solutions LLP, Jayatika Goyal, Kanika Mahadevwala, Rohit Rajpal, and Sachit Passi. Each warrant carries a right to subscribe to one equity share, has an 18-month tenor, and can be converted in one or more tranches. The company will seek shareholder approval through an EGM (cut-off date May 16, 2025) before proceeding.
The dilution is modest (about 4.18% on full conversion), and since most warrants are being issued to the existing promoter group, it signals promoter confidence and continued skin-in-the-game. However, there is some overhang risk for minority shareholders, and the stock could face mild short-term pressure until the warrants are priced in.